NEW YORK, Oct 18 (Reuters) - Deutsche Bank AG has hired Matthew Upton, an investment banker at Japan’s Mizuho Financial Group to focus on software deals, according to a memo published internally at the bank on Thursday.
Just about every investment bank has been scrambling to hire bankers specializing in software companies to keep up with the demand from clients across industries which are grappling with technological changes facing their businesses.
Upton, a managing director based in San Francisco, will report to Mark Keene, Deutsche Bank’s global co-head of technology, media and telecom investment banking, the memo said.
A spokeswoman for Deutsche Bank confirmed the hire while Mizuho could not be reached for comment.
At Mizuho, Upton founded the software and technology services practices and covered middle and large cap companies and financial sponsors.
Upton joined Mizuho in 2016 from Nomura and has also previously worked at Bank of America Corp.
The German bank announced last month that Ajay Shah would take on the newly created role of head of technology in the Americas.
Christian Sewing, who took over as Deutsche Bank’s chief executive officer, last April, has been trying to boost the investment banking franchise while restructuring other businesses, such as equities and bond trading, as the bank attempts to bounce back from three consecutive years of losses. (Reporting by Liana B. Baker in New York; Editing by David Gregorio)